The more successful companies become, the more difficult it is for them to recognize when they must change. We all know that many industries, such as entertainment, education, publishing, and financial services, are going to look very different tomorrow—yet today’s market leaders will probably be the last ones to transform themselves, even if they realize they must in order to survive. Why do companies find it so tough to tackle the obvious?
A version of this article appeared in the June 2010 issue of Harvard Business Review.
